EUR/CHF reached the support level at 1,1200. What’s next?
Today we have paid our attention to the EUR/CHF pair. The euro reached the 1,1200 level. Now there is a possibility for correction.
On the working 1D TF the pair is trying to break the Fibo correction level 23,6%. The MACD lines are approaching each other. The Parabolic SAR is still moving down but we think that it will give a reversal signal soon. The EUR broke its shorter 9 EMA upwards. The Williams %R is retuning into the working zone.
The results: it is possible to open long positions if the pair breaks the 1,1214 level. We also need to wait for the confirmation signals from the MACD and the Parabolic SAR. The support level is still at 1,1200.
We recommend that you to pay attention to the Eurogroup meeting on Friday. Any comments could be seen by traders as signals to buy or sell.